I could be wrong, but QuickTime has the option to do screen recording of MacOS as well as connected iOS devices like iPads and iPhones. Because WWDC was pre-recorded, I would assume it was a shortcut to open QuickTime and quickly record their screens for the presentation.
I don't know why they didn't just open QuickTime directly though. My personal opinion is that the menu entry may have been there for quite a while in internal demo releases, but had its functionality tweaked last minute to open QuickTime instead of doing the mirroring it normally would have done at previous WWDC conferences.
gjsieben
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I'm on Big Sur Preview 1, and I successfully launched Zoom. However, Zoom is definitely glitched when open. The window has no shadow around the borders and all icons are missing. (I can't believe the new forums don't have image uploading.)